Altruik Secures $4.7 Million in Series A Round of Financing
Investment to Support Next Generation of SEO Automation Tools
NEW YORK, Nov. 3 /PRNewswire/ -- Altruik, Inc. (www.altruik.com), a technology innovator in search engine optimization (SEO), today announced the closing of its Series A round of financing. This $4.7 million investment was led by DFJ Gotham, and supported by First Round Capital, Greenhill SAVP, and Javelin Venture Partners. Additionally, with this investment, Ross Goldstein of DFJ Gotham and Dr. Howard Morgan of First Round Capital will join Altruik's board of directors.
Altruik's technology-based approach automates the most tedious and arduous on-page components of the SEO process, providing an easy-to-use and cost effective platform to support in-house SEO marketers and consultants seeking to accelerate SEO results with far greater scalability.
"We are honored to have the support of these accomplished and highly respected investment groups," said Eric Gertler, CEO of Altruik. "Our ability to complete this investment in the current economic environment underscores the potential that we know exists in this nascent area of the Internet."
In fact, according to industry reports(1), spending in the overall search engine marketing industry - which includes spending in search engine optimization and search engine marketing - will increase to over $26 billion by 2013 in North America alone.
"We see broad applicability of Altruik's solutions for both online retailers and content providers on the Internet," said Ross Goldstein, Managing Partner, DFJ Gotham. "With its unique approach to providing a much needed solution for SEO, Altruik has a clear opportunity to capitalize on the considerable growth of this market."
Altruik's focus on automating on-page SEO has helped clients see marked improvements in their presence on search engines as well as quality traffic to their sites. Additionally, and equally important, consumers and search engines reap considerable benefits of on-page SEO automation, which ensures wholly accessible, easily discoverable pages, making previously invisible content visible.
"Altruik's unique offering of ensuring full visibility of the deep web and automating on-page SEO to make all of a site's content visible to the search engines not only enriches the overall experience for consumers on the Internet but also supports the efforts of the in-house marketers and consultants seeking to enhance SEO results for their websites," adds Tom Kwon, founder of Altruik.
(1) The State of Search Engine Marketing 2008, SEMPO
Altruik is a Search Engine Optimization technology innovator. The company's patent-pending technology automates the more tedious and arduous on-page component of the SEO process and provides an easy-to-use and cost effective platform to support the work of in-house SEO marketers and consultants seeking to accelerate SEO results with greater and faster scalability. Altruik's focus on automating on-page SEO has helped clients see marked improvements in their presence on search engines as well as quality traffic to their sites. Additional information can be found at www.altruik.com.
About DFJ Gotham
DFJ Gotham Ventures is an early-stage venture capital firm based in New York City focused primarily on early-stage information technology companies on the East Coast. DFJ Gotham Ventures partners with extraordinary teams of entrepreneurs to build strong and successful businesses that make a huge impact in their industries. DFJ Gotham Ventures takes pride in being an active partner, leveraging its experience, knowledge and relationships to provide substantial value to its portfolio companies. DFJ Gotham Ventures is proud to have backed such category leaders as Massive (acquired by MSFT), XOsoft (acquired by CA), Q-Link (acquired by Adobe), Mimeo.com, ContextWeb, Worktopia and Drop.io, among many others. For more information, please visit www.dfjgotham.com.
About First Round Capital
First Round Capital is a seed-stage venture capital firm dedicated to helping talented entrepreneurs build remarkable companies. First Round is not afraid of investing in pre-revenue companies - and often provides a company's first outside capital. As former entrepreneurs, the partners at First Round understand the challenges of launching a new enterprise, and offer insight and expertise that are as valuable as its venture capital. Additional information can be found at www.firstround.com.
About Greenhill SAVP
With over $100 million under management, Greenhill SAVP makes early stage venture investments in technology-enabled services and business information services companies. Prior fund manager investments include LivePerson, OpenWave, YellowJacket (acquired by the Intercontinental Exchange), UGO Networks (acquired by Hearst Corporation), and KnowledgeStorm (acquired by TechTarget).
Greenhill SAVP is an affiliate of Greenhill & Co., Inc., an independent global investment banking firm with offices in New York, London, Frankfurt, Toronto, Tokyo, San Francisco, Dallas and Chicago. Greenhill SAVP leverages its deep domain expertise, a proven investment track-record, and a global corporate network to create significant portfolio value. For more information about Greenhill SAVP, please visit www.gsavp.com.
About Javelin Venture Partners
Javelin Venture Partners is an early stage venture capital firm specializing in technology based start-ups that leverage key innovations to create scalable, high-growth companies. The firm's investment professionals are proven new technology entrepreneurs with the ability to identify exceptional businesses and management teams, and help them achieve great success. Based in San Francisco, CA, Javelin Venture Partners operates with the culture of a start-up and with an emphasis on being a true partner to entrepreneurs. For more information, visit www.javelinvp.com. About Greenhill SAVP:
SOURCE Altruik, Inc.
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